BYD scores 96.2% YoY spike in 2022 annual revenue

Shanghai (Gasgoo)- BYD Company Limited (“BYD”) announced this week its annual revenue reached around 424.061 billion yuan in the year of 2022, surging 96.2% from the previous year.

As for the contributions by major business units, the company said the revenue from sales of automobiles and related products came in at 324.691 billion yuan in 2022, soaring 151.78% over a year ago and accounting for 76.57% of BYD’s overall full-year revenue.

Photo credit: BYD

The business unit of automobiles and related products logged a gross profit margin of 20.39% in 2022, rising 3.69 percentage points over the prior-year period.

During the same period, the company saw its full-year net profit attributable to shareholders zoom up 445.86% year on year to about 16.622 billion yuan. Excluding the impact of certain non-recurring gains and losses, its yearly net profit even rocket 1,146.42% over a year earlier to 15.638 billion yuan.

For the year of 2022, BYD’s net cash flow generated by operating activities amounted to 140.838 billion yuan, shooting up 115.13% over the previous year.

Besides, the company sees its basic earnings per share stand at 5.71 yuan last year, versus the 1.06 yuan for the year-ago period.

BYD also noted it received around 10.438 billion yuan worth of new energy vehicle (NEV) subsidies through 2022.

In addition, the company poured roughly 20.223 billion yuan in R&D-related businesses last year, soaring 90.31% compared to 2021.